InveSTAR - SUD Life

Fact Sheet September – 2011

InveSTAR

Global Economic Scenario: Global Economic growth continues to be sluggish due to low growth rates in US and Europe and contraction in Japanese economy for the last two quarters. For quarter ended June, YoY GDP Growth rates of US, Japan, Germany, France & UK were 1.6%, 2.7%, -1.0%, 1.6% and 0.70% respectively. Whereas for China it is 9.5%

According to the latest Beige Book, US Economy continues to be weak with factory activity being unsteady, retail sales poor in most areas and the housing market flat. Unemployment rate continues at 9.1%. To increase jobs, US president is pushing Transportation Infrastructure Bill in US congress.

The rating agency Fitch downgraded the sovereign credit ratings of Italy and Spain, the third and fourth largest countries in the euro zone due to high debt, poor outlook for growth. Rating Agency Moody’s downgraded debt rating of many Banks, including Bank of America, Citibank & Wells Fargo.

France and Germany have taken fresh initiatives to prevent default by Greece as collapse of Greece and its exit from the Euro is likely have a have a domino effect in the rest of Euro zone. Need for strengthening capital by European Banks is also being emphasized.

On the fears of global slowdown, base metals and crude oil are witnessing correction. Gold and Silver, which were trading firmly, have also witnessed correction during September.

International Commodities Prices Month Ended Sept Aug Change% Gold (US $/ounce) 1624.8 1828.1 -11.1% Silver (US $/ounce) 30.49 41.49 -26.5% Copper (US $/T) 7155 9090.5 -21.3%

Aluminium (US$/T) 2242 2329 -3.7% Brent Crude(US$/bl) 104 114 -8.8%

Indian Economy: Current account deficit

(in US$ bn)

Particulars Q1FY12 Q1FY11 %

Growth

Current A/C deficit 14.1 12 17.5%

Merchandise balance 35.4 32.3 9.6%

Invisible net 21.3 20.2 5.4% Current A/C deficit % of GDP 3.10% 3.10%

The current account deficit widened to 3.1% of GDP, sequentially, due to increase in trade deficit. The trade deficit rose in spite of sharper increase in exports over imports.

Inflation (Based on WPI)

For Month-ended Y o Y % Increase

August’ 2011 9.78

July’ 2011 9.22

WPI inflation continues to be well above RBI’s comfort level and to curb Inflationary expectations rates were increased by another 25 bps. Index of Industrial Production (IIP) During July IIP has dropped to 21 month low of 3.3%.

Dismal performance of IIP was due to negative growth in Capital and Intermediate goods. However, growth rate of consumer goods and Basic goods, which was continuing to be low in the previous months, improved. Slow YoY growth of these segments and MoM

IIP- User- Based Segmental Growth (YoY)

Basic Goods

Capital Goods

Intermediate Goods

Consumer Goods

Aggregate

Apr-11 6.9% 7.3% 4.5% 4.3% 5.8% May-11 7.3% 5.9% 1.0% 5.4% 5.6% Jun-11 7.5% 38.2% 0.6% 2.3% 8.8% Jul-11 10.0% -15.2% -1.1% 6.3% 3.3% April-Jul-11 7.9% 7.6% 0.8% 4.6% 5.8%

MONTHLY REPORT – September’2011

UPDATE OF ECONOMY AND FINANCIAL MARKETS

contraction is indicating slow-down in the industrial activity. RBI’s Mid-Quarter Monetary Policy Review

Increase the Repo by 25 basis points from 8% to 8.25 with immediate effect.

Consequently Reverse Repo rate stands adjusted to 7.25 per cent and the marginal standing facility (MSF) rate to 9.25.

Monsoon During September’2011, rainfall for the country as a whole had been 2.3% above the LPA with above normal rainfall except for some regions like Telangana, Himachal Pradesh where the rainfall is 10-12% below LPA. Out of 36 meteorological subdivisions, the rainfall has been excess over 8, normal over 25 and deficient in 3(mostly in east and northeast) sub-divisions. Institutional Flows

FII Flows (Rs. Crore)

Sept’11 August’11 Total in CY 2011

Up to 30.09.11

Equity -158 -10,834 -292 Debt -1,707 2,931 17,956

Total -1,866 -7,903 17,665

Mutual Funds Flow (Rs. Crore)

Sept’11 August’11 Total in CY 2011

Up to 30.09.11

Equity -731 2,182 5,061 Debt 22,955 -186 2,22,765

Total 22,224 1,996 2,27,825 US$ Vs.INR: INR fell by 6.2% against US $ to close at Rs 48.974 as at September end against Rs 46.095 as at August end. INR continues its fall from July and has depreciated by 10.8% since July. Higher Current A/C deficit partly contributed to the depreciation. Debt Markets: In line with the policy stance, RBI maintained tight liquidity conditions in the markets and the Call Money rates during the month by and large remained close to the Repo rate After 25 bps hike in policy rate by RBI, Bond Yields spiked, at the short end and remained flattish for the longer maturities in September’2011. 10 year Benchmark G-sec closed at 8.44% as against 8.33% as at August end.

Going forward, Bond yields may remain hard with the market expectation that RBI may not pause rate hike as inflation is continuing to be high and to bridge larger than expected fiscal deficits Government may have to increase its borrowings. Stock Markets:

During September’2011, equity markets across the world have corrected on concerns of Global slowdown and debt crisis in Europe. However, Indian markets fell lesser than global markets. During September, Nifty and Sensex lost 1.3% and 1.2% respectively.

Equity Indices

Sensex Nifty

Close as on 30.09.11 16,454 4,943

Close as on 31.08.11 16,667 5,001

Change during Period -1.3% -1.2% Amongst major indices, Capital goods, Metals and Power sectors underperformed Nifty losing between 9.7% and 3.6%. IT, Consumer Durables, Oil & Gas, Auto, Realty and Teck sectors outperformed Nifty by gaining between 5.4% and 2.4%.

At the current levels, domestic markets are reasonably priced and may attract buying interest. However, one may not rule out bouts of volatility, given the global factors.

Performance Summary as on September 30, 2011

InveSTAR

6 Months 1 Year 2 Year Since

Inception

SFIN

Equity Fund

ULIF 002 25/02/09 SUD‐LI‐EQ1 142

Growth Fund *

ULIF 003 25/02/09 SUD‐LI‐GR1 142

‐12.06% ‐14.97% ‐1.03% 25.12%

25/02/2009 85.56 16.94 ‐7.67% ‐9.81% 1.27% 22.26%

25/02/2009 88.87 17.96

Individual

NAV Returns

Inception date AUM (Rs. Cr) NAV (Rs.)

Absolute CAGR

Scheme Name

InveSTAR

/ /

Balanced Fund

ULIF 001 18/02/09 SUD‐LI‐BL1 142

Bond Fund

ULIF 004 25/02/09 SUD‐LI‐BN1 142

Individual Pension Fund ‐ Equity

ULIF 005 31/03/09 SUD‐PI‐EQ1 142

Individual Pension Fund ‐ Growth

ULIF 006 31/03/09 SUD‐PI‐GR1 142

Individual Pension Fund ‐ Balanced12 96 2 08% 2 23% 3 47% 10 92%

‐11.15% ‐15.20% ‐0.67% 17.99%

31/03/2009 73.55 14.16 ‐8.12% ‐10.67% 0.17% 14.91%

‐1.93% ‐2.62% 3.54% 12.73%

25/02/2009 22.90 11.46 2.84% 4.47% 5.44% 5.56%

18/02/2009 55.10 13.68

31/03/2009 68.09 15.12

31/03/2009 48 03

Life @

Pension Life

@@

InveSTAR

Individual Pension Fund Balanced

ULIF 007 31/03/09 SUD‐PI‐BL1 142

Individual Pension Fund ‐ Bond

ULIF 008 31/03/09 SUD‐PI‐BN1 142

Apex Equity Fund

ULIF 009 20/01/10 SUD‐LA‐EQ1 142

Apex Growth Fund

ULIF 010 20/01/10 SUD‐LA‐GR1 142

Apex Balanced Fund

ULIF 011 20/01/10 SUD‐LA‐BL1 142‐6.03% N.A 2.44%

20/01/2010 217.16 10.11 ‐8.40% ‐9.43% N.A 0.65%

20/01/2010 125.44 10.42 ‐5.20%

4.27% 5.66% 5.43%

20/01/2010 236.12 9.76 ‐12.49% ‐15.16% N.A ‐1.43%

31/03/2009 12.96 11.41 2.84%

12.96 ‐2.08% ‐2.23% 3.47% 10.92%31/03/2009 48.03

Individual

Apex $

InveSTAR

ULIF 011 20/01/10 SUD‐LA‐BL1 142

Apex Bond Fund

ULIF 012 20/01/10 SUD‐LA‐BN1 142

Individual Pension Fund ‐ Apex Equity

ULIF 013 20/01/10 SUD‐PA‐EQ1 142

Individual Pension Fund ‐ Apex Growth

ULIF 014 20/01/10 SUD‐PA‐GR1 142

Individual Pension Fund ‐ Apex Balanced

ULIF 015 20/01/10 SUD‐PA‐BL1 142

Individual Pension Fund Apex Bond

‐6.49% N.A 0.99%20/01/2010 48.32 10.17 ‐4.87%

‐15.49% N.A ‐2.19%

20/01/2010 104.39 9.83 ‐8.48% ‐11.33% N.A ‐1.01%

20/01/2010 90.85 9.63 ‐11.90%

20/01/2010 24.87 10.92 2.40% 4.72% N.A 5.35%

Pension

Apex $$

InveSTAR

Individual Pension Fund ‐ Apex Bond

ULIF 016 20/01/10 SUD‐PA‐BN1 142

Express Balanced Fund

ULIF 017 29/04/11 SUD‐LX‐BL1 142

@ For Dhan Suraksha, Dhan Suraksha Premium, Prabhat Tara Products # Absolute Return

@@ For Dhruv Tara Products

$ For New Dhan Suraksha, New Dhan Suraksha Premium, New Prabhat Tara,

20/01/2010 17.99 10.91 2.69% 4.43% N.A 5.28%

N.A N.A # ‐1.33%29/04/2011 10.03 9.87 N.AIndividual

Life *

InveSTAR

$ For New Dhan Suraksha, New Dhan Suraksha Premium, New Prabhat Tara,

Dhan Suraksha 3, Dhan Suraksha Premium 3 Products.

$$ For New Dhruv Tara Products* For Dhan Suraksha Express

InveSTAR InveSTAR

Investment Objective:

Date of Inception : SFIN No.

February 25, 2009 ULIF 002 25/02/09 SUD‐LI‐EQ1 142

Portfolio % to AUM

`

Equity 86.29% Minimum Maximum

Larsen & Toubro Limited 5.65% 80% 100% 86.29%

ITC Ltd. 5.31% 0% 20% 13.71%

Reliance Industries Ltd 5.29%

Tata Consultancy Services Limited 5.14%

State Bank of India 4.46%

Infosys Ltd 4.40%

Housing Development Finance Corporation Ltd. 3.64%

ICICI Bank Ltd 3.46%

HDFC Bank Ltd 3.12%

Bajaj Auto Limited 3.11%

Bharti Airtel Limited 2.85%

Dr. Reddys Laboratories Ltd. 2.77%

Hindustan Unilever Limited 2.38%

Grasim Industries Ltd. 2.22%

Cipla Ltd. 2.22%

Hindustan Petroleum Corporation Ltd. 2.06%

GAIL (India) Limited 2.06%

Sun Pharmaceuticals Industries Ltd 1.97%

Coal India Limited 1.83%

Oil & Natural Gas Corpn Ltd 1 77%

CRISIL Liquid Fund Index ‐ 10%

To tap growth opportunities for long term capital appreciation through investments primarily in equity and

equity‐related instruments.

Investment PatternActual

Asset Mix

Particulars

Equity

MM & Others

EQUITY FUND - SEPTEMBER, 2011

Benchmark :

S & P CNX Nifty ‐ 90%

Equity86.29%

MM & Others13.71%

Asset Allocation (% to AUM)

Oil & Natural Gas Corpn Ltd 1.77%

Aditya Birla Nuvo Limited 1.61%

Tata Motors Limited 1.58%

Idea Cellular Limited 1.56%

The Indian Hotels Company Limited 1.49%

Godrej Consumer Products Limited 1.48%

Hindalco Industries Ltd. 1.38%

Axis Bank Limited 1.09%

Sterlite Industries ( India ) Limited 1.04%

NTPC Limited 1.03%

Mahindra & Mahindra Ltd. 1.03%

Tata Power Co. Ltd. 1.02%Others (with < 1% exposure) 6.26%

MM & Others 13.71%

Total 100.00%

`

13.46%

10.31%

8.36%

7.35%

5.65%

5.31%

4.41%

3.86%

3.64%

3 11%

Banking Services

Computer software

Drugs & pharmaceuticals

Refinery

Industrial Construction

Tobacco products

Telecommunication services

Cosmetics, toiletries, soaps & detergents

Housing Finance Services

Two & three wheelers

Top 10 Industry Exposure (% to AUM)

Equity86.29%

MM & Others13.71%


9

11

13

15

17

19

21

23

25

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)

NAV Performance (Since Inception)

Equity Fund Benchmark

13.46%

10.31%

8.36%

7.35%

5.65%

5.31%

4.41%

3.86%

3.64%

3.11%

Banking Services

Computer software


Refinery


Tobacco products





Top 10 Industry Exposure (% to AUM)

Equity86.29%

MM & Others13.71%


9

11

13

15

17

19

21

23

25

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Equity Fund Benchmark

Investment Objective :


February 25, 2009 ULIF 003 25/02/09 SUD‐LI‐GR1 142

Portfolio % to AUM

`



ITC Ltd. 3.77% 0% 60% 36.92%








Infosys Ltd 2.41%



HDFC Bank Ltd 2.21%







Tata Power Co. Ltd. 1.37%


Ambuja Cements Ltd 1.22%

Ranbaxy Laboratories Ltd 1.18%

Equity

Debt, MM & Others

To aim for medium to long term capital appreciation by maintaining a diversified portfolio of equity and

equity related instruments and fair exposure to high credit quality portfolio of debt and money market

instruments.


Asset Mix

Particulars

GROWTH FUND - SEPTEMBER, 2011

Benchmark :


CRISIL Composite Bond Index ‐ 30%

Debt26.91%

Equity63.08%

MM & Others10.01%


Gilt5.59%

AA0.44%

AA+3.96%

Debt Rating Profile (% of Debt)



Cadila Healthcare Limited 1.15%

Cipla Ltd. 1.03%

Others (with < 1% exposure) 7.32%

Debt 26.91%

Gilts & SDL 1.50%GOI 1.50%

Corporate Bonds 25.40%

LIC Housing Finance Ltd 3.64%

Power Finance Corporation Limited 3.13%


Indian Oil Corporation Ltd 1.48%

Reliance Capital Limited 1.41%

The Great Eastern Shipping Co. Limited 1.36%

Steel Authority of India Ltd. 1.28%

Reliance Ports & Terminals Ltd. 1.23%

National Housing Bank 1.14%

Power Grid Corporation of India Limited 1.08%


MM & Others 10.01%

Total 100.00%

`

9.83%

7.88%

7.88%

7.29%

7.24%

5.10%

4.87%

Banking Services



Refinery

Computer software


Infrastructure finance services

Telecommunication

Top 10 Industry Exposure ( % to AUM)

< 1 year 1‐3 years 3‐5 years 5‐10 years > 10 years

1.29%

50.25%

18.43%

28.83%

1.19%

Debt Maturity Profile ( % of Debt)

Debt26.91%

Equity63.08%

MM & Others10.01%


Gilt5.59%

AAA90.02%

AA0.44%

AA+3.96%


10

11

12

13

14

15

16

17

18

19

20

NAV/U

NIT (R

s)


Growth Fund Benchmark9.83%

7.88%

7.88%

7.29%

7.24%

5.10%

4.87%

4.27%

3.77%

3.14%

Banking Services



Refinery

Computer software




Tobacco products




1.29%

50.25%

18.43%

28.83%

1.19%


Debt26.91%

Equity63.08%

MM & Others10.01%


Gilt5.59%

AAA90.02%

AA0.44%

AA+3.96%


9

10

11

12

13

14

15

16

17

18

19

20

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (R

s)


Growth Fund Benchmark



February 18, 2009 ULIF 001 18/02/09 SUD‐LI‐BL1 142

Portfolio % to AUM

`


Reliance Industries Ltd 2.75% 0% 60% 24.70%

Infosys Ltd 2.21% 40% 100% 75.30%


Larsen & Toubro Limited 1.83%


ITC Ltd. 1.58%





Debt 65.88%

Gilts & SDL 6.32%

GOI 5.26%SDL (with < 1% exposure) 1.06%

Corporate Bonds 59.57%LIC Housing Finance Ltd 5.77%

Power Finance Corporation Limited 5.53%Housing Development Finance Corporation Ltd. 5.48%Reliance Capital Limited 3.99%Steel Authority of India Ltd. 3.46%Indian Oil Corporation Ltd 3.04%

BALANCED FUND - SEPTEMBER, 2011

To aim for stable returns over medium to long term through investments in high quality fixed income and

money market instruments and enhance returns through a fair exposure to equity investments.


Asset Mix

Particulars

Equity

Debt, MM & Others

Benchmark :



Debt65.88%

Equity24.70%

MM & Others9.41%


Gilt9.59%

AA0.20%

AA+10.66%


Indian Oil Corporation Ltd 3.04%Reliance Gas Transportation Infrastucture Limited 2.98%Larsen & Toubro Limited 2.80%Dr. Reddy's Laboratories Ltd. 2.72%


ACC Limited 2.13%

Tata Communications Limited 1.98%

Indian Railway Financial Corporation Ltd. 1.92%


Tech Mahindra Limited 1.84%


TATA Sons 1.80%



IDFC 1.26%


MM & Others 9.41%

Total 100.00%

`

12.75%

11.92%

6.35%

5.23%

4.63%

4.62%

4.32%

4.30%

3.99%



Refinery



Computer software

Steel

Banking Services

Investment services



3.02%

49.25%

20.78% 25.28%

1.68%

Debt Maturity Profile (% of Debt)

Debt65.88%

Equity24.70%

MM & Others9.41%


Gilt9.59%

AAA79.55%

AA0.20%

AA+10.66%


9

10

11

12

13

14

15

16

09 09

0909090909 09

090909 10

10 10

1010101010 10

101010 11

11 11

1111111111 11

NAV/U

NIT (Rs)


Balanced Fund Benchmark

12.75%

11.92%

6.35%

5.23%

4.63%

4.62%

4.32%

4.30%

3.99%

3.00%



Refinery



Computer software

Steel

Banking Services

Investment services

Cement



3.02%

49.25%

20.78% 25.28%

1.68%

Debt Maturity Profile (% of Debt)

Debt65.88%

Equity24.70%

MM & Others9.41%


Gilt9.59%

AAA79.55%

AA0.20%

AA+10.66%


9

10

11

12

13

14

15

16

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Balanced Fund Benchmark



February 25, 2009 ULIF 004 25/02/09 SUD‐LI‐BN1 142

Portfolio % to AUM

`

Debt 90.08% Minimum Maximum

Gilts & SDL 21.75% 80% 100% 90.08%

GOI 19.88% 0% 20% 9.92%

SDL ‐ Gujarat 1.26%

SDL (with < 1% exposure) 0.61%



Power Grid Corporation of India Limited 5.82%Reliance Gas Transportation Infrastucture Limited 5.41%

ACC Limited 4.80%





MRF Ltd. 3.12%

TATA Sons 3.05%



IDFC 2.60%

BOND FUND - SEPTEMBER, 2011

To aim for stable returns over medium to long term by judicious mix of investments in Government securities and

high quality corporate debt of varying maturities and also in money market instruments.


Asset Mix

Particulars

Debt

MM & Others



Benchmark :

Debt90.08%

MM & Others9.92%


Gilt

AA0.49%

AA+11.59%


I FC .60%






National Bank For Agriculture And Rural Development 1.31%


MM & Others 9.92%

Total 100.00%

`

11.95%

9.96%

5.82%

5.41%

4.80%

3.84%

3.78%

3.48%

3.13%



Electricity distribution

LNG storage & distribution

Cement

Diversified

Steel

Investment services

Refinery



2.90%

40.13%

17.34%

33.44%

6.21%


Debt90.08%

MM & Others9.92%


Gilt24.15%

AAA63.78%

AA0.49%

AA+11.59%


9.8

10

10.2

10.4

10.6

10.8

11

11.2

11.4

11.6

NAV/U

NIT (Rs)


Bond Fund Benchmark

11.95%

9.96%

5.82%

5.41%

4.80%

3.84%

3.78%

3.48%

3.13%

3.12%





Cement

Diversified

Steel

Investment services

Refinery

Tyres and Tubes



2.90%

40.13%

17.34%

33.44%

6.21%


Debt90.08%

MM & Others9.92%


Gilt24.15%

AAA63.78%

AA0.49%

AA+11.59%


9.8

10

10.2

10.4

10.6

10.8

11

11.2

11.4

11.6

Feb‐09

Mar‐09

Apr‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Bond Fund Benchmark



March 31, 2009 ULIF 005 31/03/09 SUD‐PI‐EQ1 142

Portfolio % to AUM

`


Tata Consultancy Services Limited 6.01% 80% 100% 85.42%




ITC Ltd. 4.71%


Infosys Ltd 3.24%



HDFC Bank Ltd 2.56%








MM & Others

To seek consistent long term capital appreciation through investments primarily in equity and equity‐related

instruments by focusing predominantly on well established companies.

Asset Mix

ParticularsInvestment Pattern

Actual

INDIVIDUAL PENSION FUND EQUITY - SEPTEMBER, 2011

Benchmark :



Equity

Equity85.42%

MM & Others14.58%








Punjab National Bank 1.59%



NTPC Limited 1.42%




MM & Others 14.58%

Total 100.00%

`

12.65%

10.21%

7.90%

7.76%

5.86%

4.71%

4.27%

4.15%

4.03%

3.04%

Banking Services

Computer software


Refinery


Tobacco products






Equity85.42%

MM & Others14.58%


10

11

12

13

14

15

16

17

18

19

20

21

22

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Pen Equity Benchmark

12.65%

10.21%

7.90%

7.76%

5.86%

4.71%

4.27%

4.15%

4.03%

3.04%

Banking Services

Computer software


Refinery


Tobacco products






Equity85.42%

MM & Others14.58%


10

11

12

13

14

15

16

17

18

19

20

21

22

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Pen Equity Benchmark


To seek consistent growth over medium to long term by focusing predominantly on well established

companies through investments primarily in equity and equity‐related instruments and fair exposure to high

credit quality portfolio of debt and money market instruments.

INDIVIDUAL PENSION FUND GROWTH - SEPTEMBER, 2011


March 31, 2009 ULIF 006 31/03/09 SUD‐PI‐GR1 142

Portfolio % to AUM

`





Equity

Debt, MM & Others

Asset Mix


Actual

Benchmark :



ITC Ltd. 3.30%


Infosys Ltd 2.77%





HDFC Bank Ltd 2.35%




Hindustan Unilever Limited 1 83%

Debt30.32%

Equity63.35%

MM & Others6.33%







Tata Steel Limited 1.28%






Debt30.32%

Equity63.35%

MM & Others6.33%


Gilt4.91%

AA0.90%

AA+9.01%


Debt 30.32%

Gilts & SDL 1.49%

GOI 1.40%







Reliance Gas Transportation Infrastucture Limited 1.97%

Debt30.32%

Equity63.35%

MM & Others6.33%


Gilt4.91%

AAA85.18%

AA0.90%

AA+9.01%







ACC Limited 1.21%




MM & Others 6.33%

49.51%

25.29%

19.81%


Debt30.32%

Equity63.35%

MM & Others6.33%


Gilt4.91%

AAA85.18%

AA0.90%

AA+9.01%


Total 100.00%

`

9.79%

9.00%

8.88%

Banking Services


Computer software

Top 10 Industry Exposure ( % to AUM)< 1 year 1‐3 years 3‐5 years 5‐10 years > 10 years

1.19%

49.51%

25.29%

19.81%

4.20%


Debt30.32%

Equity63.35%

MM & Others6.33%


Gilt4.91%

AAA85.18%

AA0.90%

AA+9.01%


18

19


Pen Growth Benchmark

9.79%

9.00%

8.88%

7.55%

7.27%

5.48%

4.48%

4.27%

Banking Services


Computer software

Refinery




Steel


1.19%

49.51%

25.29%

19.81%

4.20%


Debt30.32%

Equity63.35%

MM & Others6.33%


Gilt4.91%

AAA85.18%

AA0.90%

AA+9.01%


10

11

12

13

14

15

16

17

18

19

NAV/U

NIT (Rs)



9.79%

9.00%

8.88%

7.55%

7.27%

5.48%

4.48%

4.27%

3.88%

3.31%

Banking Services


Computer software

Refinery




Steel




1.19%

49.51%

25.29%

19.81%

4.20%


Debt30.32%

Equity63.35%

MM & Others6.33%


Gilt4.91%

AAA85.18%

AA0.90%

AA+9.01%


10

11

12

13

14

15

16

17

18

19

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)





March 31, 2009 ULIF 007 31/03/09 SUD‐PI‐BL1 142

Portfolio % to AUM

`



Infosys Ltd 2.49% 40% 100% 75.16%


ITC Ltd. 2.16%




Dr. Reddys Laboratories Ltd. 1.01%Others (with < 1% exposure) 10.04%

Debt 65.20%

Gilts & SDL 5.52%

GOI 4.52%



Reliance Capital Limited 5.19%LIC Housing Finance Ltd 5.14%Housing Development Finance Corporation Ltd. 5.08%Indian Oil Corporation Ltd 4.77%

Debt, MM & Others

To aim for stable returns over medium to long term through investments in high quality fixed income and

money market instruments and enhance returns through a fair exposure to equity investments.

Asset Mix


Actual

INDIVIDUAL PENSION FUND BALANCED - SEPTEMBER, 2011

Benchmark :



Equity

Debt65.20%

Equity24.84%

MM & Others9.97%


GiltAAAA+

12 18%

Debt Rating Profile (% of Debt)p

Power Grid Corporation of India Limited 4.60%Aditya Birla Nuvo Limited 3.73%ACC Limited 3.48%Power Finance Corporation Limited 3.41%






TATA Sons 1.65%




National Bank For Agriculture And Rural Development 1.03%

MRF Ltd. 1.02%


MM & Others 9.97%

Total 100.00%

`

11.53%

8.95%

7.30%

5.67%

5.28%

5.19%

4.70%

4.43%


Refinery


Computer software

Steel

Investment services





0.64%

50.89%

26.20%

17.51%

4.76%


Debt65.20%

Equity24.84%

MM & Others9.97%


Gilt8.47%

AAA77.42%

AA1.92%

AA+12.18%


11

12

13

14

15

NAV/U

NIT (Rs)


Pen Balance Benchmark

11.53%

8.95%

7.30%

5.67%

5.28%

5.19%

4.70%

4.43%

4.34%

4.11%


Refinery


Computer software

Steel

Investment services



Diversified

Banking Services



0.64%

50.89%

26.20%

17.51%

4.76%


Debt65.20%

Equity24.84%

MM & Others9.97%


Gilt8.47%

AAA77.42%

AA1.92%

AA+12.18%


10

11

12

13

14

15

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Pen Balance Benchmark



March 31, 2009 ULIF 008 31/03/09 SUD‐PI‐BN1 142

Portfolio % to AUM

`


Gilts & SDL 12.71% 80% 100% 84.20%

GOI 7.21% 0% 20% 15.80%

SDL ‐ AP 2.14%


SDL ‐ Kerala 1.45%











MRF Ltd. 3.15%

MM & Others

To aim for stable returns over medium to long term by judicious mix of investments in Government securities

and high quality corporate debt of varying maturities and also in money market instruments.

Asset Mix


Actual

INDIVIDUAL PENSION FUND BOND - SEPTEMBER, 2011

Benchmark :



Debt

Debt84.20%

MM & Others15.80%


GiltAA+

11.88%




ACC Limited 3.00%


TATA Sons 2.32%


IDFC 2.29%





MM & Others 15.80%

Total 100.00%

`

9.94%

6.78%

6.78%

6.71%

6.51%

6.06%

5.57%

4.70%




Steel

Refinery



Investment services


1‐3 years 3‐5 years 5‐10 years > 10 years

39.79%

19.89%

37.64%

2.69%


Debt84.20%

MM & Others15.80%


Gilt15.10%

AAA71.18%

AA1.84%

AA+11.88%


10 0

10.2

10.4

10.6

10.8

11.0

11.2

11.4

NAV/U

NIT (R

s)


Pen Bond Benchmark

9.94%

6.78%

6.78%

6.71%

6.51%

6.06%

5.57%

4.70%

4.56%

3.15%




Steel

Refinery



Investment services

Diversified

Tyres and Tubes



39.79%

19.89%

37.64%

2.69%


Debt84.20%

MM & Others15.80%


Gilt15.10%

AAA71.18%

AA1.84%

AA+11.88%


9.8

10.0

10.2

10.4

10.6

10.8

11.0

11.2

11.4

Mar‐09

May‐09

Jun‐09

Jul‐09

Aug‐09

Sep‐09

Oct‐09

Nov‐09

Dec‐09

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (R

s)


Pen Bond Benchmark



January 20, 2010 ULIF 009 20/01/10 SUD‐LA‐EQ1 142

Portfolio % to AUM

`




ITC Ltd. 4.65%



Infosys Ltd 3.50%



HDFC Bank Ltd 3.33%










d l d d

APEX EQUITY FUND - SEPTEMBER, 2011

To tap growth opportunities for long term capital appreciation through investments primarily in equity and

equity‐related instruments.


Asset Mix

Particulars

Equity

MM & Others

Benchmark :



Equity82.84%

MM & Others17.16%










HCL Technologies Ltd 1.08%




MM & Others 17.16%

Total 100.00%

`

13.44%

9.33%

8.42%

6.81%

6.78%

4.65%

4.33%

3.36%

3.12%

2 90%

Banking Services

Computer software



Refinery

Tobacco products




Crude oil & natural gas


Equity82.84%

MM & Others17.16%


9.0

9.5

10.0

10.5

11.0

11.5

12.0

12.5

13.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Apex Equity Benchmark

13.44%

9.33%

8.42%

6.81%

6.78%

4.65%

4.33%

3.36%

3.12%

2.90%

Banking Services

Computer software



Refinery

Tobacco products




Crude oil & natural gas


Equity82.84%

MM & Others17.16%


9.0

9.5

10.0

10.5

11.0

11.5

12.0

12.5

13.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Apex Equity Benchmark



January 20, 2010 ULIF 010 20/01/10 SUD‐LA‐GR1 142

Portfolio % to AUM

`




ITC Ltd. 3.15%








Infosys Ltd 2.17%

HDFC Bank Ltd 2.12%











APEX GROWTH FUND - SEPTEMBER, 2011

To aim for medium to long term capital appreciation by maintaining a diversified portfolio of equity and

equity related instruments and fair exposure to high credit quality portfolio of debt and money market

instruments.


Asset Mix

Particulars

Equity

Debt, MM & Others

Benchmark :



Debt25.41%

Equity61.19%

MM & Others13.40%


Gilt19.29%

AA+4.47%




Debt 25.41%

Gilts & SDL 4.90%

GOI 4.86%



Housing Development Finance Corporation Ltd. 6.20%Power Finance Corporation Limited 1.77%Reliance Gas Transportation Infrastucture Limited 1.65%MRF Ltd. 1.33%National Housing Bank 1.12%Reliance Industries Ltd 1.09%Reliance Ports & Terminals Ltd. 1.01%LIC Housing Finance Ltd 1.01%


MM & Others 13.40%

Total 100.00%

`

10.03%

9.41%

7.54%

6.23%

6.15%

4.92%

4.22%

3.64%

Banking Services



Computer software

Refinery




Top 10 Industry Exposure ( % to AUM)1‐3 years 3‐5 years 5‐10 years > 10 years

54.71%

7.34%

25.47%

12.48%


Debt25.41%

Equity61.19%

MM & Others13.40%


Gilt19.29%

AAA76.25%

AA+4.47%


9.5

10.0

10.5

11.0

11.5

12.0

NAV/U

NIT (R

s)


Apex Growth Benchmark

10.03%

9.41%

7.54%

6.23%

6.15%

4.92%

4.22%

3.64%

3.15%

2.71%

Banking Services



Computer software

Refinery




Tobacco products


Top 10 Industry Exposure ( % to AUM)1‐3 years 3‐5 years 5‐10 years > 10 years

54.71%

7.34%

25.47%

12.48%


Debt25.41%

Equity61.19%

MM & Others13.40%


Gilt19.29%

AAA76.25%

AA+4.47%


9.0

9.5

10.0

10.5

11.0

11.5

12.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (R

s)


Apex Growth Benchmark



January 20, 2010 ULIF 011 20/01/10 SUD‐LA‐BL1 142

Portfolio % to AUM

`



ITC Ltd. 2.60% 35% 65% 56.61%

Infosys Ltd 2.17%




State Bank of India 1.80%HDFC Bank Ltd 1.66%ICICI Bank Ltd 1.61%




Hindustan Unilever Limited 1.33%Tata Power Co. Ltd. 1.24%



Coal India Limited 1.17%Others (with < 1% exposure) 13.86%

Debt 38.61%

Gilts & SDL 7.26%

GOI 6.44%

SDL (with < 1% exposure) 0 82%

APEX BALANCED FUND - SEPTEMBER, 2011


Asset Mix

Particulars

Equity

Debt, MM & Others

To optimize returns over medium to long term, by aiming balance between risk and return, through

investments in high quality equity and debt instruments.

Benchmark :



Debt38.61%

Equity43.39%

MM & Others18.01%

Asset Allocation( % to AUM)

Gilt18 80%

AA+2.55%




Housing Development Finance Corporation Ltd. 6.44%LIC Housing Finance Ltd 3.52%

UltraTech Cement Limited 3.38%



TATA Sons 1.88%Larsen & Toubro Limited 1.71%Reliance Ports & Terminals Ltd. 1.50%MRF Ltd. 1.18%National Housing Bank 1.17%

ACC Limited 1.06%


MM & Others 18.01%

Total 100.00%

`

11.51%

7.08%

5.20%

5.11%

4.96%

4.76%

4.20%

4.16%


Banking Services

Cement


Computer software


Refinery




1.85%

56.62%

11.71%

25.66%

4.16%


Debt38.61%

Equity43.39%

MM & Others18.01%


Gilt18.80%

AAA78.65%

AA+2.55%


9.5

10

10.5

11

11.5

12

NAV/U

NIT (Rs)


Apex Balanced Benchmark

11.51%

7.08%

5.20%

5.11%

4.96%

4.76%

4.20%

4.16%

3.57%

2.60%


Banking Services

Cement


Computer software


Refinery



Tobacco products



1.85%

56.62%

11.71%

25.66%

4.16%


Debt38.61%

Equity43.39%

MM & Others18.01%


Gilt18.80%

AAA78.65%

AA+2.55%


9

9.5

10

10.5

11

11.5

12

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Apex Balanced Benchmark



January 20, 2010 ULIF 012 20/01/10 SUD‐LA‐BN1 142

Portfolio % to AUM

`


Gilts & SDL 28.48% 80% 100% 83.22%

GOI 25.94% 0% 20% 16.78%





Dr. Reddy's Laboratories Ltd. 4.37%

TATA Sons 4.37%





UltraTech Cement Limited 2.77%


MRF Ltd 2 05%

APEX BOND FUND - SEPTEMBER, 2011




Asset Mix

DEBT

MM & Others

Particulars

Benchmark :



Debt83.22%

MM & Others16.78%


AA+Debt Rating Profile (% of Debt)

MRF Ltd. 2.05%

IDFC 1.99%





MM & Others 16.78%

Total 100.00%

`

11.19%

9.05%

4.62%

4.37%

4.37%

3.82%

3.16%

3.15%

2.72%



Refinery


Securities investment services

Steel

Cement





33.43%

13.24%

24.85%28.48%


Debt83.22%

MM & Others16.78%


Gilt35.69%

AAA54.79%

AA+9.52%


9.8

10.0

10.2

10.4

10.6

10.8

11.0

NAV/U

NIT (R

s)


Apex Bond Benchmark

11.19%

9.05%

4.62%

4.37%

4.37%

3.82%

3.16%

3.15%

2.72%

2.05%



Refinery



Steel

Cement



Tyres and Tubes



33.43%

13.24%

24.85%28.48%


Debt83.22%

MM & Others16.78%


Gilt35.69%

AAA54.79%

AA+9.52%


9.8

10.0

10.2

10.4

10.6

10.8

11.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (R

s)


Apex Bond Benchmark



January 20, 2010 ULIF 013 20/01/10 SUD‐PA‐EQ1 142

Portfolio % to AUM

`





ITC Ltd. 4.31%




Infosys Ltd 3.44%

HDFC Bank Ltd 3.42%











Adi Bi l N Li i d 1 84%

INDIVIDUAL PENSION FUND APEX EQUITY - SEPTEMBER, 2011

Benchmark :



Equity

MM & Others

To seek consistent long term capital appreciation through investments primarily in equity and equity‐related

instruments by focusing predominantly on well established companies.

Asset Mix


Actual

Equity85.92%

MM & Others14.08%





Glenmark Pharmaceuticals Ltd. 1.67%




Cipla Ltd. 1.33%



HCL Technologies Ltd 1.07%



MM & Others 14.08%

Total 100.00%

`

13.17%

9.81%

8.08%

6.74%

5.90%

4.31%

4.23%

4.12%

3.91%

Banking Services

Computer software


Refinery


Tobacco products





Equity85.92%

MM & Others14.08%


9.0

9.5

10.0

10.5

11.0

11.5

12.0

12.5

13.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (R

s)


Pen Apex Equity Benchmark

13.17%

9.81%

8.08%

6.74%

5.90%

4.31%

4.23%

4.12%

3.91%

3.90%

Banking Services

Computer software


Refinery


Tobacco products






Equity85.92%

MM & Others14.08%


9.0

9.5

10.0

10.5

11.0

11.5

12.0

12.5

13.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (R

s)


Pen Apex Equity Benchmark



January 20, 2010 ULIF 014 20/01/10 SUD‐PA‐GR1 142

Portfolio % to AUM

`



ITC Ltd. 3.82% 15% 45% 35.91%






Infosys Ltd 2.75%




HDFC Bank Ltd 1.86%







Glenmark Pharmaceuticals Ltd. 1.33%




Ci l L d 1 28%

Debt, MM & Others

To seek consistent growth over medium to long term by focusing predominantly on well established companies

through investments primarily in equity and equity‐related instruments and fair exposure to high credit quality

portfolio of debt and money market instruments.

Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX GROWTH - SEPTEMBER, 2011

Benchmark :



Equity

Debt30.31%

Equity64.09%

MM & Others5.60%


Gilt18.09%

AA+6.33%


Cipla Ltd. 1.28%







Debt 30.31%

Gilts & SDL 5.48%

GOI 4.88%



Power Finance Corporation Limited 5.11%Housing Development Finance Corporation Ltd. 4.23%Reliance Ports & Terminals Ltd. 2.01%




TATA Sons 1.22%Tech Mahindra Limited 1.18%Others (with < 1% exposure) 5.91%

MM & Others 5.60%

Total 100.00%

`

8.85%

8.83%

8.44%

7.70%

7.54%

5.86%

5.19%

4.10%

Banking Services



Computer software


Refinery





1.89%

39.25%

25.71% 26.28%

6.87%


Debt30.31%

Equity64.09%

MM & Others5.60%


Gilt18.09%

AAA75.59%

AA+6.33%


9.5

10.0

10.5

11.0

11.5

12.0

NAV/U

NIT (Rs)


Pen Apex Growth Benchmark8.85%

8.83%

8.44%

7.70%

7.54%

5.86%

5.19%

4.10%

3.82%

2.99%

Banking Services



Computer software


Refinery



Tobacco products




1.89%

39.25%

25.71% 26.28%

6.87%


Debt30.31%

Equity64.09%

MM & Others5.60%


Gilt18.09%

AAA75.59%

AA+6.33%


9.0

9.5

10.0

10.5

11.0

11.5

12.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Pen Apex Growth Benchmark



January 20, 2010 ULIF 015 20/01/10 SUD‐PA‐BL1 142

Portfolio % to AUM

`



Infosys Ltd 2.44% 35% 65% 55.26%



HDFC Bank Ltd 2.03%





ITC Ltd. 1.39%





Cipla Ltd. 1.16%







Crompton Greaves Ltd 1.01%


Debt, MM & Others

To optimize returns over medium to long term, by aiming balance between risk and return, through investments

in high quality equity and debt instruments.

Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX BALANCED - SEPTEMBER, 2011

Benchmark :



Equity

Debt48.16%

Equity44.74%

MM & Others7.10%


Gilt24.55%

AA+5.79%


Debt 48.16%

Gilts & SDL 11.82%

GOI 9.19%SDL ‐ Gujarat 1.99%SDL ‐ Other States (with < 1% exposure) 0.65%









TATA Sons 2.04%



Rural Electrification Corporation Limited 1.06%



MM & Others 7.10%

Total 100.00%

`

10.14%

7.79%

7.73%

7.09%

6.85%

5.76%

4.77%

3.31%




Refinery

Banking Services

Computer software


Diversified



34.65%

27.35%

30.85%

7.15%


Debt48.16%

Equity44.74%

MM & Others7.10%


Gilt24.55%

AAA69.66%

AA+5.79%


9.5

10.0

10.5

11.0

11.5

12.0

NAV/U

NIT (Rs)


Pen Apex Balanced Benchmark10.14%

7.79%

7.73%

7.09%

6.85%

5.76%

4.77%

3.31%

2.98%

2.52%




Refinery

Banking Services

Computer software


Diversified





34.65%

27.35%

30.85%

7.15%


Debt48.16%

Equity44.74%

MM & Others7.10%


Gilt24.55%

AAA69.66%

AA+5.79%


9.0

9.5

10.0

10.5

11.0

11.5

12.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Pen Apex Balanced Benchmark



January 20, 2010 ULIF 016 20/01/10 SUD‐PA‐BN1 142

Portfolio % to AUM

`


Gilts & SDL 27.38% 80% 100% 86.73%

GOI 17.08% 0% 20% 13.27%


State Govt ‐ Maharashtra 3.95%

SDL ‐ AP 1.39%







IDFC 4.95%

TATA Sons 3.33%

MRF Ltd. 2.83%



Dr Reddy's Laboratories Ltd 2 20%

MM & Others



Asset Mix


Actual

INDIVIDUAL PENSION FUND APEX BOND -SEPTEMBER, 2011

Benchmark :



DEBT

Debt86.73%

MM & Others13.27%


AA+8.30%





ACC Limited 1.62%

Rural Electrification Corporation Limited 1.61%




MM & Others 13.27%

Total 100.00%

`

15.71%

8.15%

7.20%

6.39%

5.25%

3.33%

2.83%

2.30%

2.20%





Refinery


Tyres and Tubes





28.50%30.25%

27.86%

13.39%


Debt86.73%

MM & Others13.27%


Gilt31.57%

AAA60.13%

AA+8.30%


9 9

10.0

10.1

10.2

10.3

10.4

10.5

10.6

10.7

10.8

10.9

11.0

NAV/U

NIT (Rs)


Pen Apex Bond Benchmark

15.71%

8.15%

7.20%

6.39%

5.25%

3.33%

2.83%

2.30%

2.20%

2.16%





Refinery


Tyres and Tubes



Diversified



28.50%30.25%

27.86%

13.39%


Debt86.73%

MM & Others13.27%


Gilt31.57%

AAA60.13%

AA+8.30%


9.8

9.9

10.0

10.1

10.2

10.3

10.4

10.5

10.6

10.7

10.8

10.9

11.0

Jan‐10

Feb‐10

Mar‐10

Apr‐10

May‐10

Jun‐10

Jul‐10

Aug‐10

Sep‐10

Oct‐10

Nov‐10

Dec‐10

Jan‐11

Feb‐11

Mar‐11

Apr‐11

May‐11

Jun‐11

Jul‐11

Aug‐11

Sep‐11

NAV/U

NIT (Rs)


Pen Apex Bond Benchmark



April 29, 2011 ULIF 017 29/04/11 SUD‐LX‐BL1 142

Portfolio % to AUM

`

Minimum Maximum

Equity 27.48% 0% 60% 27.48%



ITC Ltd. 1.79%



Ambuja Cements Ltd 1.49%Axis Bank Limited 1.42%Oil & Natural Gas Corpn Ltd 1.33%

Cipla Ltd. 1.26%



Debt 13.92%

Gilts & SDL 1.93%

GOI 1.93%


TATA Sons 2.01%

EXPRESS BALANCED FUND - SEPTEMBER, 2011

To optimize returns over medium to long term, by aiming balance between risk and return, through

investments in high quality equity and debt instruments.

Asset Mix

Benchmark :




Actual

Equity

Debt, MM & Others

Debt13.92%

Equity27.48%

MM & Others58.59%


Gilt13.83%AA+

14.16%







Export Import Bank of India 1.01%


MM & Others 58.59%

Total 100.00%

`

5.40%

4.38%

4.01%

2.93%

2.87%

2.10%

2.01%

1.90%

1.87%

1.84%


Banking Services




Refinery


Healthcare

Computer software




50.18%

14.46%7.51%

27.85%


Debt13.92%

Equity27.48%

MM & Others58.59%


Gilt13.83%

AAA72.01%

AA+14.16%


9 6

9.7

9.8

9.9

10.0

10.1

10.2

10.3

10.4

NAV/U

NIT (Rs)


Express Balanced Fund Benchmark

5.40%

4.38%

4.01%

2.93%

2.87%

2.10%

2.01%

1.90%

1.87%

1.84%


Banking Services




Refinery


Healthcare

Computer software




50.18%

14.46%7.51%

27.85%


Debt13.92%

Equity27.48%

MM & Others58.59%


Gilt13.83%

AAA72.01%

AA+14.16%


9.6

9.7

9.8

9.9

10.0

10.1

10.2

10.3

10.4

Apr‐11 May‐11 Jun‐11 Jul‐11 Aug‐11 Sep‐11

NAV/U

NIT (Rs)


Express Balanced Fund Benchmark

Risk Factors

• This document has been prepared for the purpose of providing general information

only.

• Unit Linked Life Insurance products are different from the traditional insurance

products and are subject to various risk factors.

• Customers should take into account their personal investment objectives, risk

appetite and other aspects of their financial situation before making an investment

decision.

• Unit linked policies are subject to market risks associated with capital markets and

NAVs of units may go up or down based on the performance of fund and factors

influencing the capital market and the customers have to consider this aspect while

taking any decision.

• SUD Life shall not be responsible for any losses caused or any claims that arise due to

investments made based on this document.

• Customers are advised to note that the details are based on past performance and

are not indicative of its future prospects or returns.

• All efforts have been made to ensure accuracy of the contents of this document,

however, SUD Life shall not be held responsible for any errors or omissions.

Disclaimers related to Benchmark Indices

CRISIL Composite Bond Index and CRISIL Liquid Fund Index

CRISIL has taken due care and caution in compilation of data. Information has been obtained by CRISIL

from sources it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or

completeness of the information and is not responsible for any errors or omissions or for the results

obtained from the use of such information. CRISIL is not responsible for any errors in data

reproduction. CRISIL especially states that it has no financial liability whatsoever to the subscribers/

users/ transmitters/ distributors of this bulletin.

S&P CNX NIFTY

“The Individual Life, Pension Life, Individual Apex Life and Pension Apex Life funds related to Equity, Balanced and Growth schemes; and also Individual Life Express Balanced Fund, offered by SUD Life Insurance Co. Ltd are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL") or S&P and its affiliates.

“S&P®” and “Standard and Poor’s®” are trademarks of Standard & Poor’s Financial Services LLC, and have been licensed for use by India Index Services & Products Limited in connection with the S&P CNX Nifty Index.

Neither IISL nor S&P and its affiliates makes any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) to the owners of aforesaid schemes or any member of the public regarding the advisability of investing in securities generally or in aforesaid schemes linked to S&P CNX Nifty Index or particularly in the ability of the said Index to track general stock market performance in India”.

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